9 CRR-NY 1640-4.2NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 9. EXECUTIVE DEPARTMENT
SUBTITLE S. DIVISION OF HOUSING AND COMMUNITY RENEWAL
CHAPTER III. LOW RENT HOUSING
SUBCHAPTER D. ACCOUNTING MANUAL FOR PUBLIC HOUSING AGENCIES
PART 1640. GENERAL INFORMATION
SUBPART 1640-4. INDETERMINATE EXPENDITURES
9 CRR-NY 1640-4.2
9 CRR-NY 1640-4.2
1640-4.2 Predetermination of eligibility.
The standards applied to the determination of the eligibility, as development costs, of indeterminate expenditures are much narrower than those applied to expenditures made subsequent to the date of the contract for State aid. Such expenditures are not only limited to certain classes, but the maximum amount which may be charged to development cost, whether or not the expenditures are otherwise eligible, may also be limited. Generally speaking, within the maximum limitation set by the division, only indeterminate expenditures directly connected with the preparation and submission of the application for financial assistance, or with a housing survey to establish the need for and scope of a project will be admitted as development costs eligible to be reimbursed out of loan funds advanced or to be advanced by the State. Generally speaking, salaries of an executive director or staff, office rent, and most other expenses or costs incurred by a local agency prior to the beginning of the development period will not be admitted. Local agencies are therefore advised to consult with the division before incurring indeterminate expenditures in order to predetermine, as far as possible, their eligibility and to avoid the necessity of making adjustments at a later date.
9 CRR-NY 1640-4.2
Current through September 15, 2021
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.